Chinese mines are moving to Canada

After recent reports on tightening regulations for cryptocurrency mines in China, companies extracting digital currencies are looking for more favorable locations, such as Canada.

Recent reports from the Middle Kingdom about limiting the extraction of cryptocurrencies, and in the past its complete cessation, forced cryptocurrency farms to look for locations with more favorable conditions.

Bitmain, one of the largest mines in China, is considering moving business to Quebec. The Canadian city encourages mines with low costs of hydropower and favorable weather conditions. Bitmain has already opened a branch in Zug in Switzerland as part of the expansion of its company, perhaps now it's Canada.

The third largest farm in the world BTC.Top opens its headquarters in Canada. The United States and Iceland are also a frequently chosen location.

India also saw its chance to attract companies that are digging crypts. As a country with very low rates for electricity, it could become an ideal location for cryptocurrency farms. On the other hand, the problem may be currently being prepared regulations that do not know what their relation to digital currency extraction will be.